ReneSola acquires Dynamic Green

China-based manufacturer of solar products ReneSola has agreed to acquire rival Dynamic Green Energy in a share and cash deal.

Dynamic Green produces equipment for the solar industry across China. The company generated a turnover of $53.3 million (£32.7 million) in 2008, and gross profits of $16.8 million.

Xianshou Li, ReneSola chief executive officer, said: ‘The acquisition will enhance our competitiveness by enhancing our product quality, provide cost synergies and expand our strategic relationships with global key industry players.’

ReneSola reported a decrease in revenue of 13 per cent to $106.9 million in the first three months of 2009.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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